Freight Futures data to watch today: Chicago to Atlanta (VCA)
The National average continues to climb, having broken through the $1.50 resistance line, and is on its merry way towards the $1.53 mark on strength in the East. The spot National contract (FUT.VNU201912) gained 0.53% and closed at $1.527/mile, powered by a $0.02, or 1.27%, jump in the East regional contract (FUT.VEU201912) to $1.590. The West regional contract (FUT.VWU201912) rose 0.3% to $1.673 while the South regional contract (FUT.VSU201912) fell 0.15% to settle at $1.317. Futures markets were closed on Tuesday, 12/24, and Wednesday, 12/25, for the Christmas holiday.
Last week, the PHL to CHI contract (FUT.VPC201912) in the East soared 5.2% (the contract was unchanged at $1.028 on Monday) and on Monday, the CHI to ATL contract (FUT.VCA201912) shot up $0.053, or 2.7%, to $2.016. Tender rejections out of the Chicago area (OTRI.CHI) have now surged above 11%. The East also continues to be driven by trade flows into the ports.
The ATL to PHL contract (FUT.VAP201912) was also higher by nearly 0.5% on the day to $1.727. The lanes in the West were higher, with the LAX to SEA contract (FUT.VLS201912) up nearly 0.5% to $2.095 and the SEA to LAX contract (FUT.VSL201912) eking a fractional gain to $1.251. The lanes in the South both finished lower as the DAL to LAX contract (FUT.VDL201912) slipped 0.3% to $1.006 and the LAX to DAL contract (FUT.VLD201912) was down a fraction to $1.628.
FreightWaves SONAR: Chart
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